skoa
Short

A postmortem on why TSLA just rolled over

NASDAQ:TSLA   TESLA INC
128 1 0
A massive butterfly pattern completed at the start of the month. These patterns are more likely to happen at the end of a strong trend, which TSLA             had enjoyed. It traded sideways in an evertighter wedge , from which it was virtually garanteed to break to the low side. It actually made a tripple top(!) on the 8th, 9th and 12th, the moves towards the resistance level becoming progressively weaker.

Going short on friday would have been the optimal move. I expect TSLA             to go down to at least 247, with 221 being another rather likely target.
PS The first target of 247 was hit on september 19th, the second target of 221 was hit on october 15th. Both times the price turned at that point for a retracement.
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